Austrian to wet-lease Adria jets

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Emirates posts first loss in 30 years

Dubai-based Emirates airline has posted a $5.5 billion annual loss, its first in more than three decades, after the coronavirus pandemic devastated the aviation industry. The carrier said it received a capital injection of $3.1 billion from its owner, the government of Dubai, to help it survive the crisis. The Emirates group was "hit hard by the drop in demand for international air travel as countries closed their borders and imposed stringent travel restrictions", said Chairman and Chief Executive, Sheikh Ahmed bin Saeed Al Maktoum. "No one knows when the pandemic will be over, but we know recovery will be patchy", he said in a statement. The Middle East's largest carrier said that the fallout triggered a loss of 20.3 billion dirhams ($5.5 billion) over the financial year to March, after last year's 1.1 billion dirhams ($288 million) profit. The airline, which was forced to temporarily suspend scheduled operations last year, saw revenue fall 66% to $8.4 billion. Over the fiscal year Emirates carried 6.6 million passengers, down 88% from the same period in the previous year. "The Covid-19 pandemic continues to take a tremendous toll on human lives, communities, economies, and on the aviation and travel industry", Sheikh Ahmed said. "Economies and companies that entered pandemic times in a strong position, will be better placed to bounce back", he added. The last time the airline reported a loss was in the 1987-88 financial year, when it was starting up its operations. Like other major carriers, Emirates began announcing heavy layoffs when its fleet of A380 superjumbos and Boeing 777s was grounded. The Emirates Group's employee base - which includes ground-handling firm Dnata - was slashed by 30.8% to 75.145 employees. Before the virus hit, Emirates airline alone employed some 60.033 staff, including 4.300 pilots and nearly 22.000 cabin crew. The workforce has now shrunk to 40.801 staff. Emirates is currently flying to 157 destinations, almost its full travel network of 158 destinations in 85 countries before the pandemic.
Source: France 24

Austrian to wet-lease Adria jets

NEWS FLASH

Austrian Airlines has confirmed it has signed a wet-lease agreement with its Star Alliance partner Adria Airways for two Bombardier CRJ900 aircraft. The aim of the agreement is to have reserve aircraft available to enable greater flexibility in flight planning. Austrian Airlines will lease the jets along with cockpit and cabin crew from March 31 until December 31. The aircraft will be used on select flights from Vienna to Belgrade, Košice and Warsaw. Adria Airways' CEO, Holger Kowarsch, said recently, "In line with modern economic principles, the direction of growth is also in the ACMI [aircraft, crew, maintenance, and insurance lease] segment, where Adria Airways sees its competitive advantage since we are a company that adapts well to changes in an increasingly demanding environment".

Comments

Anonymous13:36
"...since we are a company that adapts well to changes in an increasingly demanding environment" LOL.
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Anonymous12:30
Yeah Adria is really companý of changes
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Andrej76714:34
Nothing to complain about - i rather see new SSJs than old CRJs
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